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mCloud signs MoU with Aramco to explore co-development of ESG and digitalisation hub

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Oilfield Technology,

mCloud Technologies Corp. has signed a Memorandum of Understanding (MoU) with Aramco that will see the companies explore the co-development of a digital technology hub for delivering ESG solutions in the Kingdom of Saudi Arabia.

This hub would enable both parties to jointly develop new AI-powered innovations to facilitate the carbon reduction of complex energy-intensive assets throughout the Kingdom and abroad. Additionally, mCloud plans to develop a centre of excellence that will serve as a home base for a dedicated team of ESG and digital transformation experts based in Saudi Arabia.

Following mCloud’s December 2021 cloud agreement with Saudi-based Virtual Vision (V2), this centre of excellence would leverage V2’s high performance infrastructure to deliver next-generation ESG-focused applications powered by mCloud’s AssetCare™ platform. Targeted application areas include 3D digital twins, AI solutions for asset performance management, visual inspection to drive asset reliability and asset integrity, fugitive gas and leak detection, mobile connected work, and digital facility management.

“This MOU with Aramco is the largest, most ambitious agreement signed by mCloud to-date and is the basis for tremendous growth and innovation,” said Russ McMeekin, mCloud President and CEO. “As the world’s largest integrated energy and chemicals company, Aramco is driving the digitalization of oil and gas and the adoption of advanced technologies to decarbonize and drive positive ESG outcomes.”

“The collaboration between mCloud and Aramco has remarkable strategic and operational significance to mCloud’s growth, and I intend to have a regular minimum quarterly presence in the Kingdom of Saudi Arabia to support the success of this initiative for many years to come,” McMeekin added.

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The issue starts with a report from Rystad Energy focusing on the outlook for the upstream industry in the Middle East. The rest of the issue is dedicated to features covering production optimisation, drill bits, pipeline integrity, health and safety, and more.

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